New York Lawmaker Proposes Tighter Rules On Credit Monitoring

ALBANY, NY — In the wake of the massive Equifax data breach, Rockland County Democratic Sen. David Carlucci wants New York to force credit monitoring companies to offer free credit monitoring and credit freezes to all consumers. Under a series of Carlucci's proposals announced Thursday, New York state would boost consumer protections and add tougher regulations for credit monitoring firms.

Carlucci told The Associated Press he's also calling for expanded consumer access to free credit reports.

One proposal would establish new cybersecurity standards and increase regulations and licensing requirements on credit-monitoring firms. Current state and federal regulations haven't kept up with technology, Carlucci said, and data breaches will become more common — and more problematic.

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"We are just woefully unprepared to meet the challenges that we're dealing with today," he said. "This is something that's on the rise, costing more and more money, and we haven't kept up with the times."

The Equifax breach exposed personal information for 145 million Americans and 8 million New Yorkers. Carlucci's proposals come from a subsequent legislative hearing he chaired that focused on the breach and what consumers can do to protect themselves.

A spokeswoman for Atlanta-based Equifax has said her company is "actively engaging" with state and federal officials looking into the breach.

Carlucci's proposals are expected to be considered once lawmakers return to Albany in January to begin the 2018 session.

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